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Commodities Buzz: BOE Calls in support of Raising Interest Rates Before End of Year

Post Published on : 22-06-2017

Bank of England (BOE) chief economist Andy Haldane called on behalf of raising the bank rate before the end of the year in a speech on Wednesday. Gross domestic product increase at 0.2 percent in the first quarter of 2017, and uncertainty over the direction of Brexit meant that it would be unwise to pursue a rate rise any time soon. Britain's bank rate hit a documentation low of 0.5 percent in March 2008 as a response to the financial crisis and subsequent recession.

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